The Financial Professionals Title Protection – Supervisory Framework Guidance sets out FSRA’s supervision approach under the Financial Professionals Title Protection Act, 2019 and the Financial Professionals Title Protection (FPTP) Rule.

2023-2024 Financial planners and financial advisors supervision focus

For 2023-2024, FSRA’s supervision approach for approved credentialing bodies will focus on examining four key areas of supervision, including, but not limited to:

Putting Client’s Interest First Resources Stress Testing Complaint Handling Process Disciplinary Process
How prioritization of the Client’s Interest First principle is integrated at the core of the credentialing bodies’ credentialing program. How credentialing bodies are prepared to handle increased demands on resources and ensure they can effectively administer and maintain a credentialing program. Transparency and accessibility of credentialing bodies’ complaint handling processes to the public and ensuring they are fair and efficient. Process for credentialing bodies to impose appropriate and timely disciplinary actions.

Examinations will focus on the approved credentialing body’s requirements under the Financial Professionals Title Protection Act, the Financial Professionals Title Protection Rule and the terms and conditions of FSRA’s approval.

Through supervision and examination, FSRA will ensure the effective implementation of the minimum standards under the Financial Professionals Title Protection Framework (FPTPF) with a goal of enhanced consumer protection, higher industry standards and consistency among credentialing bodies.

FSRA expects approved credentialing bodies and stakeholders to review the 2023-2024 Financial Planners and Financial Advisors Supervision Plan and other relevant FSRA publications and resources for the sector.

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